##Bitcoin’s ‘Not’ a Currency But a Partial ‘Store of Value’

 

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Another one down!

As Bitcoin enjoys a rally, more and more Bitcoin skeptics are changing their tune. This time it’s Dr. Doom’, Nouriel Roubini.

In an interview with Yahoo Finance, the professor of economics at New York University’s Stern School of Business and CEO of Roubini Macro Associates who has called BItcoin previously a “mother of all scams” said it could be a store of value, in part, but maintained that it is not currency. He said,

He also believes once the central bank digital currencies (CBDC) launch, which is already in the works, especially the digital yuan, then “every individual can use an account with the central bank to do payments.”

In that case, Roubini doesn’t think anyone would need Venmo or even a bank account, let alone crypto. Roubini said,

Meanwhile, the crypto market participants believe CBDC will rather drive the interest into cryptos because the digital fiat, unlike cash, will be used to censor and keep track of users’ activities.

As such, Bitcoin and cryptos’ censorship resistance and fixed supply will only make them more attractive.